Stocks to watch Tuesday: Universal Display, Drew

WASHINGTON (MarketWatch) — Among the stocks that could see active trade in Tuesday’s session are Universal Display Corp., Winn-Dixie Stores Inc. and Clayton Williams Energy Inc.

On the earnings calendar are Dollar General Corp.
DG, -0.01%
and 1-800-Flowers.com Inc.
FLWS, +3.61%
among others.

For the second time this month, lighting-products maker Universal Display
PANL
reached a business alliance with an Asian technology company. Panasonic Idemitsu OLED Light Co. will be licensed to integrate certain phosphorescent and other technologies into its products. Financial terms were not disclosed. A week ago, Samsung Mobile Display entered into a deal with Ewing, N.J.-based Universal Display.

Clayton Williams Energy
CWEI, -0.76%
revised lower its 2011 financial forecast for exploration and development as well as, by an unspecified amount, its expected oil and gas production for this year. In a filing with the Securities and Exchange Commission, the Midland, Texas-based company said it now plans to spend $385 million on E&P activities, $54 million than previously forecast. The company said it has scaled back on oil-drilling plans for a site in Reeves County, Texas.

Drew Industries Inc.
DW, +0.00%
agreed to pay $22.6 million to buy Starquest Products LLC, marking its fourth acquisition of the year. Starquest, which has annual sales of about $22 million, makes windows used in recreational vehicles and manufactured homes. So far this year, White Plains, N.Y.-based Drew said it has committed nearly $50 million to acquisitions that together add more than $70 million to sales while diversifying its business.

The board of New England Bancshares Inc.
NEBS
approved a stock-repurchase program to acquire up to about 5% of the company’s outstanding common stock. Repurchases will be made from time to time through open-market purchases or privately negotiated transactions, the company said. In all, Enfield, Conn.-based New England Bancshares is authorized to buy back slightly more than 332,000 shares.

Monday earnings recap

Wrapping up fiscal 2011, Winn-Dixie
WINN
reported net income dropped to $7.3 million, or 13 cents a share, in the fourth quarter ended June 29, down from $14 million, or 25 cents, earned in the year-earlier period. Quarterly revenue slipped to $1.62 billion from $1.68 billion. Profit profit from continuing operations for the latest quarter totaled $5.6 million, or 10 cents a share. Analysts surveyed by FactSet Research had projected earnings of 12 cents a share on revenue of $1.61 billion. For fiscal 2012, Jacksonville, Fla.-based Winn-Dixie pegged earnings before interest, taxes, depreciation and amortization, on an adjusted basis, in a range of $120 million to $135 million, with capital spending projected at about $200 million, some $125 million of which would be earmarked for remodelings and developing new stores.

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